News

November 2018

Professional services network Russell Bedford International has, for the tenth consecutive year, assisted the World Bank in researching its annual Doing Business project, contributing data on tax regulation, recent reforms, and the real costs of tax compliance worldwide. The report, Doing Business 2019: Training for Reform (which can be downloaded HERE), again highlights the performance of emerging economies.

This latest report finds that reforms are taking place where they are most needed, with low-income and lower middle-income economies carrying out 172 reforms. In Sub-Saharan Africa, a record number of 40 economies implemented 107 reforms, a new best in number of reforms for a third consecutive year for the region. The Middle East and North Africa region scaled a new high with 43 reforms.

The report lists New Zealand, Singapore and Denmark as the top three economies for ease of doing business, and this year’s top improvers are Afghanistan, Djibouti and China.

“The diversity among the top improvers shows that economies of all sizes and income levels, and even those in conflict can advance the business climate for domestic small and medium enterprises. Doing Business provides a road map that different governments can use to increase business confidence, innovation, and growth and reduce corruption,” said Shanta Devarajan, the World Bank’s Senior Director for Development Economics and Acting Chief Economist.

“This year’s results clearly demonstrate government commitment in many economies, large and small, to nurture entrepreneurship and private enterprise. If the reform agendas are complemented with training programs for public officials, the impact of reforms will be further enhanced, new data show,” said Rita Ramalho, Senior Manager of the World Bank’s Global Indicators Group, which produces the report.

Stephen Hamlet, CEO, Russell Bedford International, commented: "As proud supporters of the annual World Bank Doing Business project, we commend the work of the World Bank in gathering data that gives a comprehensive picture of global business practices. It is certainly encouraging to see such diversity in the top improvers and in particular for developing countries who continue to improve the business climate and bring benefit to all who wish to practise business globally.”